In this article, we will explore in detail how Asksuite's Sales and Demand dashboard can be a valuable tool for the hotel industry in its management of customer service and omnichannel communication. We will discuss its importance, benefits, an overview, and the key indicators that can assist in making strategic business decisions. Let's get started!
Topics Covered
Benefits
Before diving into the details of the dashboard, it's important to highlight the benefits it offers to hoteliers.
- In-Depth Understanding of Travelers: The dashboard provides valuable insights into the preferences and behavior of travelers. This helps hoteliers personalize their offerings and services.
- Strategic Decision-Making: With data from the dashboard, it's possible to make informed decisions about pricing, promotions, and marketing strategies.
- Identification of Upsell Opportunities: Metrics analysis allows managers to identify upsell opportunities, such as selling additional services or higher-category rooms. Based on traveler behavior, it's possible to offer upgrades or personalized services during the booking process, increasing revenue per booking.
- Enhancement of Traveler Experience: Tracking metrics helps understand traveler preferences. Managers can use this information to customize offers, recommend local activities, or suggest upgrades that cater to specific traveler interests. This results in a more relevant and enjoyable experience.
- Trend Monitoring: Monitoring metrics over time helps identify seasonal trends and changes in traveler behavior. This allows managers to anticipate demands by adjusting rates, promotions, and marketing strategies according to identified trends.
- Performance Evaluation and ROI: Managers can evaluate the chatbot's performance and calculate the return on investment (ROI) in using this technology. This is crucial for justifying the resources invested in implementing the virtual assistant and making informed decisions about its continued use.
- Internal Process Optimization: In addition to improving communication with travelers, tracking metrics can also lead to internal optimizations. Managers can identify bottlenecks in booking and communication processes and take measures to improve them, resulting in operational efficiency.
- Feedback for Development: Metrics also provide valuable feedback for the continuous development of the virtual assistant. Technology companies like Asksuite can use the collected data to enhance the chatbot's performance by adding new features and improving responses based on the real needs of hoteliers and travelers.
In summary, closely monitoring the metrics of quotes and bookings made by the virtual assistant is an essential practice for hotel managers who want to optimize efficiency, increase revenue, improve traveler experience, and make informed strategic decisions. With the right technology and proper data analysis, hoteliers can transform communication with travelers and, consequently, boost the success of their businesses in the hospitality industry.
Indicators
1. Period Filter
At the top right of the page, we have the period filter. This filter determines what happens with all the data on the page. By default, the last quarter is filtered, but you can select any date by clicking on the Custom Period option.
2. Conversion Funnel
The conversion funnel is a fundamental part of the dashboard. It shows how travelers have progressed from the initial quote to conversion. Hoteliers can analyze at which stage travelers are abandoning the process and take measures to improve conversion. Here, you should ask yourself: "How is my robot's conversion rate? If it's low, is my rate attractive to travelers accessing my site? What actions can I take to increase the conversion rate?"
The funnel stages are as follows:
- Total Open Interactions: This is the first stage of the funnel, where you record the total number of interactions travelers have with the virtual assistant. These interactions can include questions, reservation inquiries, information requests, and any other form of engagement with the assistant. This metric provides an overview of the number of travelers who initiated a conversation with the virtual assistant.
- Total Quotes Made: The second stage of the funnel is where you track how many of the initial interactions resulted in the creation of quotes. This occurs when travelers inquire about prices, availability, and other stay-related information at the hotel. This metric helps understand how many travelers are genuinely interested in obtaining detailed information about their stay.
- Total Clicks on "Book Now": The third stage of the funnel involves monitoring how many of the travelers who made quotes progressed to the next stage, which is clicking the "Book Now" button or a similar call to action. This metric indicates a higher level of interest from travelers, as they are showing a clear intention to proceed with the booking.
- Total Reservations Made: The last stage of the funnel is the final conversion, where travelers who clicked on "Book Now" actually completed the booking process. This metric represents the number of successful reservations made through the virtual assistant. It is the endpoint of the funnel and indicates success in turning initial interest into concrete actions that generate revenue for the hotel.
⚠️ Important: To view the total reservations made through your virtual assistant, you need to have activated our automatic reservation tracking through the Asksuite pixel. For more information, please read our article: What is the Pixel for Reservation Tracking?
3. Average Research Lead Time
Knowing how far in advance of check-in travelers are researching and making reservations is vital. This helps hoteliers adjust their promotion and availability strategies. Thus, you can identify precisely when travelers are interested and when they typically start planning their trips, especially on special dates like Valentine's Day, holidays, and New Year's Eve, for example.
With this information, you can take the following actions:
- Decide when to start promoting special packages.
- Create a strategic advertising schedule based on traveler research.
- Open the schedule for the next year.
Available indicators include:
- Average Research Lead Time
- Average Research Lead Time by Month
4. Quote Trends
The dashboard also provides insights into quote trends. Hoteliers can identify which types of rooms or services are more popular during different times of the year and adjust their offers accordingly.
See our available indicators:
- Room Availability in Quotes
In this chart, you can check the effectiveness of availability searches through your virtual assistant. By identifying the availability volume in different periods, you can understand whether it's time to increase the number of available rooms on your booking engine and/or decrease them on OTAs. After all, our goal is to increase the number of direct reservations, and for that, travelers need to find availability on the dates they are searching for.
- Most Sought-After Date in Quotes:
Understand which date is most sought after in the quotes made in the filtered period. Use the granularity filter to discover the day, week, and month most sought after by travelers.
- Demand Analysis and Unavailability
This table provides revealing information about the quotes made through your robot, such as the farthest date searched by travelers, the most sought-after periods, and the periods with the highest unavailability.
With this data in hand, you can make accurate rate adjustments and not miss any opportunities.
Each row in the table is equipped with an "eye" shaped button that allows you to view the details of each period. Clicking on this button will direct you to a second table that displays the precise check-in and check-out information searched by travelers. This second table offers a more comprehensive perspective, allowing for a deeper analysis of which periods are being most sought after, beyond the check-in date presented in the first table.
Useful Tips
- Regularly monitor the dashboard to stay aware of traveler behavior and trends.
- Use the insights gained to customize seasonal offers and promotions.
- Pay attention to the average research lead time to ensure that your rates are competitive.
With Asksuite's Sales and Demand dashboard, hoteliers can make data-driven decisions, personalize traveler experiences, and enhance the efficiency of their omnichannel communication. This tool is an essential part of Asksuite's mission to simplify direct communication between hotels and travelers, turning travelers into brand ambassadors.
If you have any questions or need assistance in using the dashboard, our customer support team is always available to help.
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